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MCX Copper is likely to trade with negative bias during today`s trading session - Monarch Networth Capital Ltd
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COMMODITY TECHNICAL OUTLOOK
* MCX Gold is likely to trade with sideways to negative bias during today’s trading session. Support is at Rs.68700 - 68400 levels whereas resistance is at Rs.69300 – 69600 levels.
* MCX Silver is likely to trade with negative bias during today’s trading session. Support is at Rs.78200 - 77500 levels whereas resistance is at Rs.79600 - 80200 levels.
* MCX Crude Oil is likely to trade with sideways to positive bias during today’s trading session. Support is at Rs. 6250 - 6180 levels whereas resistance is at Rs. 6400 - 6480 levels.
* MCX Copper is likely to trade with negative bias during today’s trading session. Support is at Rs.765 – 760 levels whereas resistance is at Rs.777 - 783 levels.
CHART OF THE DAY
MCX-COPPER (DAILY CHART)
Strategy: Intraday
* COPPER prices traded with negative bias during the last trading session; and prices are trading below downward trend line.
* For Intraday session immediate support is at 765 – 760 level and resistance at 777 – 783. Any pullback towards resistance level should be taken as selling opportunity targeting immediate support of 765 – 760 levels on lower side.
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